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Harmony disposes of 14% of its investment in African Rainbow Minerals Limited

In line with Harmony’s stated commitment to unwind the Harmony / ARM cross shareholding, Harmony is pleased to announce that it has disposed of 14% of its investment in ARM (“the ARM shares”) to The ARM Broad-Based Empowerment Trust (“the Trust”) for a cash consideration of R829 827 460 representing a price of R29.00 per ARM share.

The Trust has been established for the purpose of warehousing the ARM shares to further facilitate broad-based empowerment in ARM’s shareholder base. The acquisition by the Trust increases ARM’s Black Economic Empowerment (“BEE”) shareholding from 43% to 57%. ARM is Harmony’s largest shareholder and BEE partner with 16.2% of Harmony.

“These funds will be allocated towards Harmony’s numerous growth projects currently under construction where Harmony believes it is able to generate a higher return on investment. It also further demonstrates Harmony’s commitment to South Africa and the South African gold mining industry,” commented Harmony CE, Bernard Swanepoel.

For more details contact:
Harmony Gold

Ferdi Dippenaar
Marketing Director
+27(0)82 807 3684

Brenton Saunders
Executive, Investor Relations
+27(0)83 607 4060

Vusi Magadana
Investor Relations Officer
Office: +27 11 684 0149
Mobile: +27(0)72 157 5986
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South Africa - Beachhead Media & Investor Relations

Jennifer Cohen
Office: +27 11 214 2401
Mobile: +27 82 468 6469
This email address is being protected from spambots. You need JavaScript enabled to view it.

Patrick Lawlor
Office: +27 11 214 2410
Mobile: +27 82 459 6709
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